Tag: Report

Fresh Money From Retail Traders Flows Into Copy Trading As Crypto Derivative Expands: Margex Report

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Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the…

US Spot Bitcoin ETFs Report 5 Straight Days of Outflows, Totaling $635 Million

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On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, 2024, U.S. […] Original

Russian Authorities Introduce New Restrictions on Cryptocurrency To Prevent Ruble From Being Replaced: Report

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Russia reportedly plans to institute a wide-ranging crypto ban in September. Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, says the country plans to prohibit “organizing the circulation of cryptocurrencies,” according to the National News Service, a Russian media agency. “We are talking about a ban on transactions with Bitcoin and other cryptocurrencies. Digital financial assets issued in Russian jurisdiction, digital rubles, will be allowed. The need for a ban is due to the fact that today cryptocurrency is a quasi-currency that replaces the ruble in…

Crypto Exchange Executives and 29 Other People Accused of Running $24,560,000 Fraud Scheme in Taiwan: Report

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Authorities in Taiwan are reportedly accusing crypto exchange executives and dozens of others of running a multimillion-dollar crypto scam. According to a new report by the Taipei Times, prosecutors are charging 32 people with fraud allegedly related to the ACE crypto exchange, recommending 20-year sentences for the four operators of the trading platform. Those arrested include David Pan and Lin Keng-hong, the founders of the ACE crypto exchange platform, and Wang Chen-huan, the chairman of the firm. The Taiwanese government says that the scheme defrauded about 1,200 out of $24.56…

Pantera Capital Wins Bid To Purchase a Stash of Discounted Solana From Bankrupt Crypto Exchange FTX: Report

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Crypto asset manager Pantera Capital has reportedly won a bid to purchase discounted Solana (SOL) from bankrupt crypto exchange platform FTX. According to a new report by Bloomberg, an anonymous person familiar with the matter says that Pantera won a bid to purchase a discounted stash of the Ethereum (ETH) rival. Though the details of the deal haven’t been made public yet, the person says that 2,000 SOL tokens were sold this week. Earlier in April, FTX sold about 66% of its $2.6 billion trove of SOL at a discounted…

Morgan Stanley to Broaden Availability of Spot Bitcoin ETFs: Report

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Morgan Stanley, a leading global investment bank, is reportedly considering expanding access to bitcoin spot exchange-traded funds (ETFs). The firm may soon authorize its approximately 15,000 brokers to actively solicit customer purchases. Morgan Stanley to Widen Access to Spot Bitcoin ETFs Global investment bank Morgan Stanley is contemplating broadening access to spot bitcoin exchange-traded funds […] Original

Is Bitcoin Rally Over? Leverage Drops As Halving Highs Fade: Report

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Recent trends in the crypto market have indicated a notable shift in trader behavior, particularly among those investing in Bitcoin. Using data from CryptoQuant, Bloomberg has revealed that the Bitcoin funding rate—the cost for traders to open long positions in Bitcoin’s perpetual futures—has turned negative for the first time since October 2023. Bitcoin Funding Rates: Source: CryptoQuant This change suggests a “cooling interest” in leveraging bullish bets on Bitcoin, coinciding with the fading impact of major market drivers. Bitcoin Market Dynamics Post-Halving The decline in Bitcoin’s funding rate correlates with…